The Scope of Marketing
The Scope of Marketing
What Is Marketing?
Marketing is about identifying and meeting human and social needs
Two Definitions of Marketing
Social definition:
Deliver a higher standard of living
Managerial definition:
The art of selling products
We need to design the right product by doing careful marketing homework
Canon ELPH digital camera
Toyota Prius hybrid automobile
Example
These manufacturers were swamped with orders
What Is Marketed?
Goods
Services
Events
Experiences
Persons
Places
Properties
Information
Most Importantly
Ideas are being Marketed
The Rolling Stones have done a masterful job of marketing their rebellious form of rock and roll to audiences of all ages.
Who Markets?
MARKETERS AND PROSPECTS
Marketer: who seeks a response
Prospect: attention from another party
Eight demand states are possible:
Negative demand
Non-existent demand
Latent demand
Declining demand
Irregular demand
Full demand
Overfull demand
Unwholesome demand
Structure of Flows in a Modern Exchange Economy
A Simple Marketing System
KEY CUSTOMER MARKETS
Consumer Markets
Business Markets
Global Markets
Non-profit and Governmental Markets
MARKETPLACES, MARKETSPACES, AND METAMARKETS
marketplace is physical
marketspace is digital
metamarket is cluster of complementary products and services